Guideline Value for LOGAMBAL STREET

Logambal Street guideline value

The current guideline value of Logambal Street in Jelandianpettai village is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class I Type - I.

How the guideline value of Logambal Street has changed

The guideline value of Logambal Street has undergone several revisions over the years. The earliest registered figure is from 2012, which was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017, then an increase to Rs 2,500 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. The change from 2023 to 2024 reflects a 10% increase, resulting in an overall increase of 10% from 2012 to 2024.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Logambal Street's 2024 figure above this median.

• Mageshwari Nagar: Rs 2,200 per sq.ft (2024)
• Mageshwari Street: Rs 2,200 per sq.ft (2024)
• Mahagaveer Street: Rs 2,200 per sq.ft (2024)
• Lakshmi Nagar Main Road: Rs 2,750 per sq.ft (2024)
• Lakshmi Nagar Jhansirani Street: Rs 2,200 per sq.ft (2024)
• Lakshmi Nagar 5th Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Logambal Street

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Logambal Street?

The Sub Registrar Office that covers Logambal Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

You can find your SRO for more details.

How the guideline value is used when you buy or sell in Jelandianpettai

The guideline value is a crucial factor during the registration of property transactions in Jelandianpettai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When buying or selling property, the guideline value helps determine the legal and financial obligations of both parties. It is essential to be aware of the current guideline value to ensure compliance with local regulations and to understand the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Logambal Street?

The current guideline value of Logambal Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Logambal Street?

Logambal Street is classified as Residential Class I Type - I under the Chennai South Joint I SRO.

What are the stamp duty and registration fees for property in Logambal Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 2,47,500, calculated based on the guideline value of Rs 27,50,000.

Where can I find the Sub Registrar Office for Logambal Street?

The Sub Registrar Office for Logambal Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.